Curbstone Financial Management Corp Buys New Shares in Newmont Corporation $NEM

Curbstone Financial Management Corp acquired a new position in shares of Newmont Corporation (NYSE:NEM) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 5,418 shares of the basic materials company’s stock, valued at approximately $457,000.

Several other large investors also recently made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Newmont in the second quarter valued at approximately $919,170,000. Invesco Ltd. raised its stake in Newmont by 45.0% in the 2nd quarter. Invesco Ltd. now owns 15,587,917 shares of the basic materials company’s stock valued at $908,152,000 after acquiring an additional 4,839,447 shares during the period. Amundi lifted its holdings in Newmont by 2.8% during the 1st quarter. Amundi now owns 12,646,114 shares of the basic materials company’s stock valued at $611,187,000 after purchasing an additional 343,535 shares during the last quarter. Legal & General Group Plc boosted its position in Newmont by 6.3% during the second quarter. Legal & General Group Plc now owns 7,444,729 shares of the basic materials company’s stock worth $433,236,000 after purchasing an additional 438,748 shares during the period. Finally, Orbis Allan Gray Ltd increased its holdings in shares of Newmont by 1.7% in the first quarter. Orbis Allan Gray Ltd now owns 5,672,683 shares of the basic materials company’s stock valued at $273,877,000 after purchasing an additional 92,387 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. BNP Paribas downgraded shares of Newmont from an “outperform” rating to a “hold” rating and set a $97.00 target price for the company. in a report on Friday, December 5th. Weiss Ratings restated a “buy (b-)” rating on shares of Newmont in a report on Monday. Argus increased their target price on Newmont from $75.00 to $94.00 in a research note on Friday, November 21st. Scotiabank upgraded Newmont from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the company from $71.50 to $114.00 in a research note on Thursday, October 23rd. Finally, TD Securities upped their price objective on Newmont from $67.00 to $89.00 and gave the company a “hold” rating in a report on Wednesday, October 8th. Five analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Newmont currently has an average rating of “Buy” and a consensus target price of $96.37.

Insider Activity

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of the stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $92.36, for a total transaction of $192,108.80. Following the sale, the director directly owned 32,709 shares in the company, valued at $3,021,003.24. This represents a 5.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $81.34, for a total transaction of $406,700.00. Following the completion of the transaction, the chief executive officer directly owned 279,923 shares in the company, valued at approximately $22,768,936.82. This represents a 1.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 11,240 shares of company stock valued at $943,985 in the last ninety days. 0.05% of the stock is currently owned by company insiders.

Newmont Stock Down 0.5%

NYSE NEM opened at $104.72 on Friday. The company has a current ratio of 2.04, a quick ratio of 1.74 and a debt-to-equity ratio of 0.17. The company has a market cap of $114.27 billion, a price-to-earnings ratio of 16.26, a PEG ratio of 0.73 and a beta of 0.41. The company has a 50 day moving average of $90.08 and a 200-day moving average of $76.95. Newmont Corporation has a 1-year low of $36.86 and a 1-year high of $105.73.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, October 23rd. The basic materials company reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.44. The firm had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.14 billion. Newmont had a return on equity of 20.35% and a net margin of 33.42%.The company’s revenue was up 20.0% on a year-over-year basis. During the same quarter last year, the company earned $0.81 EPS. On average, equities research analysts expect that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 22nd. Investors of record on Wednesday, November 26th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Wednesday, November 26th. Newmont’s payout ratio is 15.53%.

Newmont Profile

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.